Shakeaway Worldwide Holdings Ltd - Period Ending 2022-01-31

Shakeaway Worldwide Holdings Ltd

(Registration number: 10743838)
Balance Sheet as at 31 January 2022

	Note	2022 £	2021 £
Fixed assets
Investments	4	1,239,953	1,239,953
Creditors: Amounts falling due within one year	5	(28,642)	(26,949)
Net assets		1,211,311	1,213,004
Capital and reserves
Called up share capital	6	1,000	1,000
Share premium reserve		1,217,133	1,217,133
Retained earnings		(6,822)	(5,129)
Shareholders' funds		1,211,311	1,213,004

For the financial year ending 31 January 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 28 October 2022 and signed on its behalf by:
 

......................................... Mr P J Dickson Director

Shakeaway Worldwide Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
8 St Stephens Court
15-17 St. Stephens Road
Bournemouth
Dorset
BH2 6LA

These financial statements were authorised for issue by the Board on 28 October 2022.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling which is the functional currency of the company and rounded to the nearest £1.

Group accounts not prepared

The company has taken advantage of the exemption to prepare consolidated accounts as the parent and the group qualify as small under the provision of section 398 of the Companies Act 2006.

Investments

Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Trade debtors

Debtors are recognised at transaction price. A provision for the impairment of debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Creditors are recognised at transaction price. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Shakeaway Worldwide Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022 (continued)

2	Accounting policies (continued)

Financial instruments

The company has basic financial instruments which are classified, measured and accounted for according to the substance of the contractual arrangement, as financial assets or financial liabilities. The company has not entered into any complex financial instruments.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2021 - 0).

4	Investments

	2022 £	2021 £
Investments in subsidiaries	1,239,953	1,239,953

Subsidiaries	£
Cost
At 1 February 2021	1,239,953
Carrying amount
At 31 January 2022	1,239,953
At 31 January 2021	1,239,953

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Subsidiary undertaking	Registered office	Holding	Proportion of shares held
			2022	2021
Shakeaway Worldwide Limited	8 St Stephens Court, 15-17 St Stephens Road, Bournemouth, Dorset	Ordinary shares	100%	100%

Subsidiary undertakings

Shakeaway Worldwide Limited The principal activity of Shakeaway Worldwide Limited is the retail sale of milkshakes and the provision of franchise licences to branded outlets. The loss for the financial period of Shakeaway Worldwide Limited was £518,703 and the aggregate amount of capital and reserves at the end of the period was £265,197.

Shakeaway Worldwide Holdings Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 January 2022 (continued)

5

Creditors

	2022 £	2021 £
Due within one year
Amounts owed to subsidiary undertaking	27,642	25,749
Income tax payable	-	200
Accruals	1,000	1,000
	28,642	26,949

6	Share capital

Allotted, called up and fully paid shares

	2022		2021
	No.	£	No.	£
Ordinary share of £1 each	1,000	1,000	1,000	1,000

50 ordinary shares were allotted on incorporation of the company, and a further 950 ordinary shares were allotted on 25/07/2017. Each share having a nominal value of £1 and full entitlement to profit and capital distribution. Total consideration for the shares amounted to £1,218,133 giving rise to a share premium reserve of £1,217,133.

Control

Although Mr P J Dickson owns 65% of the share capital of the company, the 3 shareholders have equal voting rights irrespective of the number of shares held. The directors appointed after the year end do not hold shares or have voting rights as at the date of approval of the accounts.